Candel Therapeutics (NASDAQ:CADL) Earns "Buy" Rating from HC Wainwright

Candel Therapeutics (NASDAQ:CADL - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $19.00 price target on the stock. HC Wainwright's price objective would suggest a potential upside of 311.26% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. Bank of America began coverage on shares of Candel Therapeutics in a report on Friday, February 7th. They set a "buy" rating and a $15.00 price objective for the company. Citigroup assumed coverage on shares of Candel Therapeutics in a research note on Thursday, February 20th. They issued a "buy" rating and a $25.00 price target on the stock. Finally, Canaccord Genuity Group raised their price objective on Candel Therapeutics from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th.

Candel Therapeutics Stock Performance

Shares of CADL traded down $0.33 during mid-day trading on Friday, reaching $4.62. The stock had a trading volume of 370,674 shares, compared to its average volume of 1,454,647. The firm has a market cap of $218.23 million, a price-to-earnings ratio of -2.67 and a beta of -0.95. Candel Therapeutics has a 12 month low of $3.79 and a 12 month high of $14.60. The business has a fifty day moving average of $7.64 and a 200 day moving average of $6.85.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.17). On average, research analysts forecast that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Insider Transactions at Candel Therapeutics

In other news, CTO Seshu Tyagarajan sold 31,278 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.82, for a total transaction of $275,871.96. Following the transaction, the chief technology officer now owns 85,512 shares of the company's stock, valued at approximately $754,215.84. The trade was a 26.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charles Schoch sold 5,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $44,150.00. Following the sale, the insider now owns 38,038 shares in the company, valued at $335,875.54. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 41.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Baker BROS. Advisors LP purchased a new position in shares of Candel Therapeutics during the 4th quarter worth about $25,884,000. Acorn Capital Advisors LLC bought a new position in shares of Candel Therapeutics during the fourth quarter valued at approximately $16,836,000. Braidwell LP bought a new stake in shares of Candel Therapeutics during the 4th quarter worth approximately $13,888,000. Portolan Capital Management LLC bought a new position in shares of Candel Therapeutics in the fourth quarter worth about $6,543,000. Finally, Halter Ferguson Financial Inc. increased its position in shares of Candel Therapeutics by 123.7% during the fourth quarter. Halter Ferguson Financial Inc. now owns 681,334 shares of the company's stock worth $5,914,000 after acquiring an additional 376,795 shares during the period. Institutional investors own 13.93% of the company's stock.

About Candel Therapeutics

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.